Wealthy returning, driving Million-dollar home sales up

multi-million-home=posted-daily-business-news-mhpronews-com-A report from real estate research firm DataQuick reveals that U.S. home sales priced at more than $1 million are rising at three times the rate of the broader market. The journalgazette tells MHProNews that Craig Moe, who bought a $1.2 million home in June said, “When the real estate market was booming, people sat in Starbucks and talked about how much they paid for a house. Now, they talk about how little they paid and what a bargain they got.” Well-to-do buyers have often gained in the stock market’s rise since 2009 and are driving million-and-up sales, which rose an average of 37% in the first half of 2013. Sales below a million rose, but only by 11%, according to the National Association of Realtors (NAR). Sales of million-plus homes are at the highest level since 2007, while sales of less than a million dollar homes are at the best pace since 2009. ##

(Photo credit: Sterling Chase Realty)

 

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